An Echelon Media Company
Friday November 13th, 2026

Rearview of a Carnage

“Muslim fundamentalists are those who feel that the troubles of the Muslim world at the present time are the result not of insufficient modernization but of excessive modernization”

(P144 Crisis of Islam -Bernard Lewis)

Terror takes tolerance hostage. The purpose of terror is to undermine our tolerant way of life. What motivates the perpetrators of terror?

To fight an idea, we must understand the idea.  A comparatively small, disproportionately dynamic, unbelievably influential group that calls themselves ISIS are seeking to impose a totalitarian version of Islam on us and all other nations of the world.

The commonsense approach to solve the problem is to define who we are and accurately ascertain who they are.

First things first. Fighting ‘Velupillai Prabhakaran’ and fighting ‘Abubaker al Baghdadi’ are two different ball games.

We defeated a terrorist, call him the world’s worst and the most vicious or whatever. But he subscribed to the notion of the ‘modern nation state’. That is why he wanted and fought for a piece of the post-colonial nation state.

This new guy is different and drastically so. He rejects the notion of the modern state, the role of citizen in the polity and individual human rights. He has found fertile soil to sow his seeds of mindless butchery in Arabized towns and villages in our Eastern province.

We ended a thirty-year war. As Dr. Jayadeva Uyangoda noted at a recent event – the first anniversary of the weekly Sinhala broadsheet apocalyptically called ‘Anidda” the war did not result in a positive productive peace. Instead we had a negative peace. The good professor called it a ‘Nissheda Saamayak”.

More than a negative peace it is an impotent, confused directionless peace.   The fault lines are further sharpened in the military imposed peace.

Multi religious gathering mourned the Easter Sunday victims and denounced the attack on Saturday

The most venerable Galaboda Aththe Gnannasara thero is in prison for contempt of court. Now we learn that the venerable monk has correctly identified some perpetrators of the recent savagery. He has unmistakably warned about the danger they presented.

Now, his foresight is cited as a good reason to validate his dancing the merry jig before a judge presiding over the inquiry in to the disappearance of a cartoonist and imploring the distraught wife seeking closure to go beg on the streets instead of litigating to find out her husband’s fate.

The Chaos we are in

As I said earlier, we have chaos and that in abundance. The Chaos we are in, is   very real and thriving.

A former FBI operative Ali Soufan   who spent eight years deeply embedded in counter terrorism  in his book “ Anatomy of Terror, points out that rounding up the terrorists alone does not address the problem. We must find out what these people believe in. “Ideology is the cornerstone of these organisations. That’s why we should not be distracted by different names, different groups – this is al-Qaida, this is Daesh etc, etc. We have to go into the glue that pulls these things together. It is ideology that we have to deal with If we don’t, we will continue to suffer for years to come.”

The shape and the shaping of the monster is not only important but is the single imperative before us. Yet a mild digression is called for.

Demonstration in Colombo

Our well-known history scholar of Sri Lanka, Lorna Dewaraja in 1994 published a book ‘The Muslims of Sri Lanka – One Thousand Years of Ethnic Harmony 900-1915.’

Her book narrates the trajectory of the relationship between the Sinhalese-majority community and the Muslim minority over a period of thousand years- from the time of Sri Lanka’s first known contacts with Islamic world in the eighth and ninth centuries till the beginnings of the British rule.

She examines the evolving mutually beneficial relationship between the migrant Muslim traders and the agricultural Sinhalese culminating in the structural assimilation of Muslims into the Kandyan body politic.

She provides a lucid account of how this process precluded or prevented the natural process of cultural assimilation where the migrant culture is totally submerged in the host culture.

The Muslims were loyal subjects of Sinhala kings who remained a distinct and cohesive group in the Kandyan Kingdom devoutly adhering to Islam and  cultural attributes that survived their relocation.

This process of structural assimilation while insulating the migrant community from any erosion of their cultural distinctiveness was a unique process.

The Eastern province was a part of the Kandyan kingdom. The Eastern province that had the largest concentration of Muslims in the country was frozen in time and in their comfortable antiquity until M.H.M Ashraff discovered the value and the promise of Sri Lanka Muslim ethnoreligious identity under proportional representation and in the context of the 13th amendment. That is another story for another day.

From the movie Khalid Ibd Walid/pinterest
The Unbroken Sword of God

Let us return to Global Islam.  The legendary Islamic conqueror Khalid ibn Walid also known as the ‘Unbroken sword of God arrived on the border of Persia in the 7th century. He told the Persians “A people is already upon you who love death as you love life”.

The inexorable march of those who loved death over life crossed the Indus river and settled in the Gangetic plains. The world reconciled to the spread of Islam on Khalid ibn Walid’s haughty disdain for life and arrogant love of death in taking the message of the prophet to lands far from Arabia.

In 1854 Karl Marx wrote an essay – ‘History of the Eastern Question’ to the New York Herald Tribune. It was a discourse on the diplomatic horse trading by France and Britain with the Ottoman empire the last Caliphate to frustrate Russian expansion south.

Turkey was wiling but its mullahs and muftis were being difficult. The incisive mind of Marx makes a characteristically Marxian prognosis. He writes “The Koran and the Mussulman legislation emanating from it reduce the geography and ethnography of the various people to the simple and convenient distinction of two nations and of two countries; those of the Faithful and of the Infidels.”

To the clinical mind of Karl Marx, every Arab setting out of Arabia in a corsair ship was a portable empire builder!

Pakistan Army logo
Islam’s tryst with democracy and pluralism

Islam had its tryst with democracy and a pluralist democracy at that, when Mohamed Ali Jinnah persuaded the departing British to carve out Pakistan a Muslim majority state in the subcontinent.

When Pakistan was created in 1947 Jinnah who was doctrinaire secularist declared that non-Muslims would be equal citizens in the new country. Rest is history.

Pakistan is the first post-colonial modern nation state that embraced   the terrifying tenor of the 7th century Muslim conqueror Khaled ibn Walid and his notion of religious purity.

Pakistan is not the subject of this essay. Today the Pakistani jurists who are outstanding legal scholars are in a deadly struggle to bring the anachronistic theocracy in to the 21st century.

Therein lies a way forward to our Muslim community now feeling trapped orphaned, insecure and yearning for the days of ethnic harmony described by Professor  Lorna Devaraja .

Justice Tassaduq Hussain Jillani is a member of the Pakistan Supreme Court and the author of paper appropriately titled “Democracy and Islam: An Odyssey in Braving the Twenty-First Century.” (https://digitalcommons.law.byu.edu/lawreview/vol2006/iss3/5/ )

According to Justice Jillani ,  ‘Tauheed’ is “the foremost principle on which the political system in Islam is based.  “ Tauheed stipulates that sovereignty over the entire universe belongs to Allah Almighty and requires that all authority exercised by people fall within limits prescribed by Him”

The concept of divine sovereignty according to Justice Jilani may” appear to be the antithesis of the concept of popular sovereignty” and therefore requires a careful interpretation that goes beyond a literal adoption. He points out that the more pragmatic interpretation of God’s sovereignty would be to regard man as the deputy of divine authority.  

I do not wish to tread on grounds that angels avoid. The purpose of this missive is to point out the need for orthodoxy to reconcile with the essential paradigms of a modern democratic society.

Justice Jillani does not say it. But it must be stated and reiterated. That man is the true deputy exercising divine sovereignty is the principle the French discovered by storming the Bastille and putting God’s anointed monarch to the guillotine.

We adopted the principle tentatively courtesy Sir Ivor Jennings and more pronouncedly courtesy Dr. Covin R de Silva and the 1972 republican constitution with one tiny fly in the ointment – Buddhism given the foremost place while guaranteeing religious freedom to all faiths.

Sri Lanka and its struggle

In the tenth Parliament the Leader of the Sri Lanka Muslim Congress got up to congratulate the speaker on his election. The deputy speaker Anil Moonasinghe Trotskyite, Grand Nephew of Anagarika Dharmapala and later President of the Sri Lanka Mahabodhi society was presiding.  The man who gave voice to the voiceless Muslims of the Eastern Province commenced his peroration recorded in Hansard.

“Allahu Akbar, Allahu Akbar, Allahu Akbar, La-ilaha Illallahu Allahu Akbar, Allahu Akbar Walillahil Hamdu … Hon Speaker, I have great pleasure in conveying our congratulations and felicitations on behalf of the Sri Lankan Muslim Congress.

Some members interrupted. The Deputy Speaker called for order and let the SLMC leader proceed with his speech.

“Sir, this is the first time in the history of Parliament that a Muslim Member in his capacity as Leader of the Political Party has been given the opportunity of felicitating the Speaker. I am proud and thankful to Allahu Th’ala’ that I have been given this opportunity.”

Had our constitution been a strictly secular constitution the SLMC’s founder leader would not have been permitted to turn his perch in parliament in to a pulpit. What goes around comes around.

The identity politics of the SLMC served the narrow purpose of serving the short-term objectives of competitive electoral politics. I am not suggesting that the SLMC knowingly encouraged extremist jihadists.

The Eastern Province Muslims were our equivalent of the Russian peasantry who did not know of an electric bulb before the revolution. The 19th Century and the first two decades of the 20th Century skipped past them.  They represented the classic post-colonial marginalized under the hegemony of Macan Markar , Faleel Gafoor type Muslim elite who dominated Muslim politics.

They were so dumb that they rejected Badi ud din Mahmud who made trained teachers out of Muslim girls who had hardly reached the eighth grade in secondary school. The SLMC opened the pandoras box. The Jihadists captured its contents.

In 2004, Abu Bakr Naji, a suspected al-Qaeda strategist, published an online manuscript entitled, The Management of Savagery: The Most Critical Stage Through Which the Umma Will Pass. It was translated into English in 2006 by William McCants, a fellow at West Point’s Combating Terrorism Center and published by John M Olins Institute of Strategic Studies of the Harvard University. (Any reference to it must carry this acknowledgement)

It is a must read for those who need to understand the minds of those unleashing mindless terror. Management of Savagery is a manual on how to create regions of savagery, how to exploit media attention and how to increase the number of jihadist recruits arising from the control of these regions. The strikes against economic targets are intended to undermine the self-determination of the nation-state controlling the region under attack. So, the ISIS threat is real, global and unmitigated trouble in an election year.

Sri Lanka stocks close down 0.60-pct, dragged by HNB and LOLC

ECONOMYNEXT – Sri Lanka’s Colombo Stock Exchange closed down on Friday, CSE data showed, with the benchmark All Share Price Index moving down 0.60 percent.

The ASPI was down 133.22 points at 22,024.18, while the more liquid S&P SL20 was down 1.06 percent, or 67.55 points, at 6,298.02.

The ASPI ended the week up 784.53 points from last Friday.

Positive contributors to the ASPI were Dialog Axiata (up 0.40 percent at 50.20 rupees), Distilleries Company of Sri Lanka (up 0.52 percent at 58.30 rupees), Aitken Spence (up 3.60 percent at 151.00 rupees), Ceylon Tobacco Company (up 1.05 percent at 1,828.50 rupees), and LOLC Finance (up 1.96 percent at 5.20 rupees).

Hatton National Bank (down 1.88 percent at 403.75 rupees), Richard Pieris and Company (down 6.21 percent at 27.20 rupees), LOLC Holdings (down 2.17 percent at 405.00 rupees), Sampath Bank (down 1.91 percent at 154.00 rupees), and Singer (Sri Lanka) (down 2.40 percent at 77.30 rupees) were top negative contributors.

Market turnover was 3.23 billion rupees. Capital goods led turnover with 869.21 million rupees. (Colombo/Nov13/2026)

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Sri Lanka MP slams budget speech for omitting Tamil national question

ECONOMYNEXT – A Sri Lanka legislator has voiced strong disappointment that the President’s budget speech failed to make a single mention of the Tamil national question.

“It is very unfortunate that in His Excellency the President’s speech, there has not been a single word mentioned about the Tamil national question. Not a single word,” Shanakiyan Rasamanickam said.

“A budget speech generally, is a policy direction of the government for the next year. The budget speech is not only a statement of the country’s fiscal position or the economy’s position. It is the country’s, the government’s, plan, or what the government plans to do the following year. That’s a policy statement.”

Former presidents would at least mention the Tamil question even if it was not resolved, he said.

Former President Ranil Wickremesinghe in his speech, in his policy statement, he would mention: “The Tamil national question must be resolved,” Rasamanickam said.

Former Presidents Maithripala Sirisena and Gotabaya Rajapaksa also mentioned that the national ethnic question must be resolved, he added.

“Every President, every country’s Head of State, in their policy statements, have acknowledged the fact that there is an unresolved national issue, the Tamil national question, that it needs to be resolved. Various governments have proposed various mechanisms; none of them have succeeded, but at least it was mentioned.”

This year’s budget made allocations for the Office of Missing Persons, and the Office of Reparations.

“But the domestic mechanism is a mechanism that the victim community has rejected. So you all are allocating money to a mechanism where the victim community is not going to be part of.”

Last year’s budget 1 billion was allocated to be spent on the Trincomalee and Jaffna airports.

“Where was that 1 billion for the Trincomalee and Jaffna airports spent last year?”

“The trajectory of this government, Honourable Deputy Speaker, is worrying to me. It’s really worrying to me. Because if the objective is to say that there is no Tamil national question, if the objective is to say that you all have resolved any ethnic issue that this country faced, then Honourable Deputy Speaker, then I think the Tamil people will teach this government a very, very, very harsh lesson in the future.” (Colombo/Nov13/2026)

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Sri Lanka sells extra Rs6.5bn Treasury bills after auction

ECONOMYNEXT – Sri Lanka has sold 6,500 million rupees of treasury bills offered on tap at an average rate of 9.95 percent, the public debt management office said, bringing the total of bills sold in the week to 85.562 billion rupees.

The issue offered 90 billion.

Total market subscription was 6.5 billion rupees.

The debt office sold a 12-month bill at 9.95 percent.

On Wednesday (11) the debt office raised 79 billion rupees of 3, 6 and 12 month bills after offering 90 billion.

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Sri Lanka Treasury bill yields hold broadly steady, less bills sold

The settlement date is November 13. (Colombo/Nov13/2026)

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Access Engineering Sept quarter group net profit surges 200-pct to Rs4.75bn

ECONOMYNEXT — Sri Lanka’s Access Engineering PLC recorded a group net profit attributable to equity holders of Rs. 4.75 billion for the quarter ended September 30, surging 200 percent from Rs. 1.58 billion a year earlier, interim accounts showed.

Basic earnings per share rose to Rs. 4.08 for the September quarter, up from Rs. 1.58 previously.

Quarterly group revenue expanded 36 percent to Rs. 20.39 billion from Rs. 14.94 billion, underpinned by condominium property handovers — reflected in inventories dropping Rs. 7.69 billion since March to Rs. 35.71 billion — alongside strong automobile sales and steady civil engineering execution.

Cost of sales rose at a slower 27 percent to Rs. 14.34 billion, lifting gross profit by 64 percent to Rs. 6.05 billion and expanding gross margins to 29.7 percent from 24.7 percent.

Other income jumped 144 percent to Rs. 259.9 million, while administrative expenses rose 75 percent to Rs. 1.14 billion, leaving operating profit up 64 percent at Rs. 5.16 billion.

However, finance costs more than doubled, rising 107 percent to Rs. 1.18 billion on elevated group borrowings of Rs. 43.74 billion, partly offset by finance income climbing 302 percent to Rs. 42.2 million.

Share of results from equity-accounted investees rose 122 percent to Rs. 26.7 million, pushing pre-tax profit up 56 percent to Rs. 4.05 billion.

Income tax swung to a net reversal of Rs. 186.6 million from an expense of Rs. 804.1 million, boosted by deferred tax assets on unrelieved losses from a 100 percent enhanced capital allowance claimed by 60 percent-owned radiopharmaceutical subsidiary Access Medical Tracers (Private) Limited.

Total period profit rose 136 percent to Rs. 4.24 billion, with non-controlling interest declining 24 percent to Rs. 164.9 million following last year’s buyout of minority shareholders in Harbour Village (Private) Limited.

No separate exchange gain or loss was itemized in quarterly earnings, though foreign currency translation via associates recorded a Rs. 17.4 million loss in other comprehensive income, alongside USD 16.6 million in corporate guarantees.

Notes also flagged an expected Rs. 1.45 billion recovery from the terminated South Asia Commercial and Logistics Hub project, a Rs. 225 million post-quarter legal settlement already provided for, and a Supreme Court appeal over a 2011/12 PAYE tax ruling.

Group assets stood at Rs. 132.4 billion as of September 30, with net asset value per share at Rs. 46.70, as the Employees’ Provident Fund raised its stake to 5.69 percent.

Access Engineering shares closed at 80.00 rupees at the end of September and are currently trading around 85.80 rupees. (Colombo/Nov13/2026)

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Sri Lanka private sector says timely implementation of Budget 2027 key

ECONOMYNEXT – Private sector body, The Ceylon Chamber of Commerce, said it was encouraged by the broad direction of Budget 2027, noting that it reinforces Sri Lanka’s commitment to economic transformation while maintaining policy continuity, macroeconomic stability, and fiscal discipline.

“This continuity is particularly important as the country seeks to transition from economic stabilisation to a more durable, investment-led growth trajectory.”

The chamber also noted several areas where the Budget could have placed greater emphasis to strengthen the country’s growth prospects.

“In particular, there is a need for a stronger focus on attracting Foreign Direct Investment (FDI), accelerating factor market reforms, particularly in land and labour, and fast-tracking public procurement reforms to improve the efficiency and speed of project implementation.

“More targeted and actionable proposals could have been introduced to unlock the potential of sectors with significant growth opportunities, including tourism, agriculture, IT/BPO and logistics.”

The chamber said the budget contains positive measures aimed at enhancing competitiveness, and external sector resilience, while presenting opportunities for focus on sectors that can accelerate growth.

“A number of the key structural reforms identified in last year’s Budget have been carried forward and strengthened, providing greater certainty and predictability to businesses and investors.

“These include the continued implementation of the Trade National Single Window (TNSW), the phased removal of para-tariffs, the rollout of the Digital ID framework, efforts to expand market access through new Free Trade Agreements (FTAs), the strengthening of one-stop-shop investment facilitation mechanisms, progress on Customs reforms, the expansion of Bandaranaike International Airport (BIA), enhanced financing support for SMEs, and reforms relating to the management of State-Owned Enterprises.”

The CCC said that more than 20 proposals submitted by it have been reflected in Budget 2027.

These include measures to strengthen investor facilitation through the establishment of a professionally managed investment promotion agency; continued efforts to improve trade facilitation and export competitiveness; the Government’s consideration of a successor programme with the International Monetary Fund (IMF); accelerated progress on key legislative reforms; the expansion of digital government services; and the promotion of cashless payments and broader digital adoption. The Budget has also captured several priorities relating to energy security, including the accelerated deployment of Battery Energy Storage Systems (BESS) and investments in fuel storage infrastructure, initiatives to optimize underutilized agricultural land, measures to support the expansion of the digital economy and the IT/BPO sector, and tax reforms to support exporters, including the acceptance of newly VAT-registered exporters as eligible exporters.

“The inclusion of these priorities reflects the value of sustained public-private dialogue and demonstrates increasing alignment between national policy objectives and the needs of a competitive, export-oriented economy.

“The priority now must be effective and timely implementation to translate policy commitments into investment, competitiveness, exports and sustainable growth.” (Colombo/Nov13/2026)

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Sri Lanka stocks trend lower day after budget reading

ECONOMYNEXT – Sri Lanka’s Colombo Stock Exchange was trending lower on Friday, CSE data showed, with the benchmark All Share Price Index moving down 0.66 percent.

The ASPI was down 146.78 points at 22,011, while the more liquid S&P SL20 was down 0.94 percent, or 59.99 points, at 6,306.

Positive contributors to the ASPI were Access Engineering (up 1.30 percent at 85.80 rupees), LAUGFS Gas (up 3.31 percent at 49.90 rupees), Ceylon Tobacco Company (up 1.13 percent at 1,830 rupees), Ceylon Cold Stores (up 0.80 percent at 126 rupees), and Namunukula Plantations (up 1.79 percent at 68.10 rupees).

LOLC Holdings (down 1.03 percent at 409.75 rupees), Hatton National Bank (down 0.61 percent at 409 rupees), Sunshine Holdings (down 3.81 percent at 30.30 rupees), and Sampath Bank (down 1.91 percent at 154 rupees) were top negative contributors.

Market turnover was 1.55 billion rupees. Capital goods led turnover with 459.57 million rupees. (Colombo/Nov13/2026)

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